India’s largest iron ore producer, National Mineral Development Corporation (NMDC), has increased prices for iron ore lump and fines by INR 200 (USD 2.1) per ton, effective May 6, according to a stock exchange filing.
Under the revised pricing, 65.5pct Fe lump ore (10-40 mm) is set at INR 5,500 (USD 58.2) per ton, while 64pct Fe fines (below 10 mm) are priced at INR 4,700 (USD 49.7) per ton.
The prices are quoted on a FOR (Free on Rail) basis and exclude royalty, DMF, NMET, cess, forest permit fee, transit fee, GST and other applicable taxes.
NMDC is a major iron ore producer in India, operating the Bailadila mines, known for high-grade ore with up to 65.5pct Fe content. In Karnataka, the company runs the Donimalai and Kumaraswamy mines in the Bellary-Hospet region. The miner aims to expand its iron ore capacity to 100 mln tons per annum by FY31.
1 USD / 94.4 INR
